Mirae Asset Global Investments Co. Ltd. Has $12.09 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Watsco, Inc. (NYSE:WSO) by 27.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,179 shares of the construction company’s stock after acquiring an additional 5,482 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of Watsco worth $12,085,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of WSO. Ashton Thomas Securities LLC purchased a new stake in shares of Watsco in the third quarter worth approximately $43,000. Quarry LP increased its stake in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after buying an additional 33 shares during the period. Brooklyn Investment Group purchased a new stake in Watsco in the 3rd quarter worth approximately $48,000. MCF Advisors LLC boosted its stake in shares of Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after buying an additional 25 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Watsco during the 4th quarter valued at $90,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Raymond James began coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating for the company. Robert W. Baird cut their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Northcoast Research initiated coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $488.33.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.86% of the stock is owned by company insiders.

Watsco Trading Down 0.0 %

Shares of NYSE:WSO opened at $473.91 on Friday. The stock has a market capitalization of $19.14 billion, a PE ratio of 36.62 and a beta of 0.95. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41. The firm has a fifty day moving average price of $493.23 and a 200 day moving average price of $492.04.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is 83.46%.

About Watsco

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.